National Steel Policy

India targets 604 MT steel capacity by 2047

The government, late on Saturday, introduced a draft steel policy for public consultation which targets 604 million metric tons of steel capacity by 2047 from the current 220 million tons level, as reported by Reuters News.Reuters had earlier reported that the policy gives plans to reduce emmissions from sectors and improve access to coking coal and iron ore which are major raw materials and are anticipated to meet expected demand.Also Read: India steel ministry unlikely to seek new curbs on cheap imports, government source saysThe draft steel policy is looking to slash the industry's average

India targets 604 million tons of steel capacity by 2047, eyes lower emissions

India plans to significantly increase its steelmaking capacity to meet future demand for infrastructure and manufacturing. The government aims to reduce the steel industry's carbon-emission intensity by nearly 39 percent by 2047. To achieve this goal, India will secure raw materials through overseas investments and joint ventures. The draft policy includes measures for diversifying sourcing to mitigate supply risks.

Draft steel policy targets 604 MT capacity by 2047